Bank of Thailand Holds Rate at 1.50% Under New Governor

The Bank of Thailand held its benchmark policy rate at 1.50% at its October 2025 Monetary Policy Committee meeting, while markets had anticipated a 25 basis point reduction. The decision was reached by a 5-2 vote. It came at the first meeting presided over by newly installed Governor Vitai Ratanakorn, who formally assumed the role on 1 October 2025.

THE VOTE

Two members favoured a rate reduction. According to the committee's statement, the five members who voted to hold gave importance to the timing and effectiveness of monetary policy given limited policy space.

VITAI RATANAKORN'S FIRST MEETING AS GOVERNOR

The October meeting was Vitai Ratanakorn's first as governor of the Bank of Thailand. He was previously president of the Government Savings Bank.

Thailand's policy rate had been lowered to 1.50% in August 2025, amid consistent government calls for more accommodative monetary conditions.